Methods of Ownership Transfer
Chapters in this video
- 0:00 Why property titling determines who gets what at death
- 1:11 JTWROS and the right of survivorship memory aid
- 2:35 TIC: your share goes to your estate, not survivors
- 4:05 Tenancy by the entirety: married-only creditor shield
- 5:07 Community property: nine states and the double step-up
- 6:23 The comparison matrix you need on scratch paper
- 7:48 Rapid-fire exam recap
What this video covers
- What joint tenants with rights of survivorship (JTWROS) means: equal shares, unanimous consent to sell, and automatic bypass of probate via right of survivorship
- Why JTWROS is not limited to married couples, and how exam questions trap you into thinking it is
- How tenancy in common (TIC) differs: no right of survivorship, shares pass through the estate into probate, and owners can hold unequal percentages and sell independently
- What tenancy by the entirety (TBE) is: married couples only, right of survivorship, and built-in creditor protection against one spouse's individual debts
- Which nine states recognize community property, why marital assets split 50-50 regardless of who earned the income, and the unique double step-up in basis at death
- How to use the comparison matrix of survivorship, probate, creditor protection, and step-up in basis to eliminate wrong answer choices fast
Read the full lesson, free
This video's complete written lesson is free to read in the CertFuel app, no signup wall. The complete Series 66 course also includes adaptive practice questions and spaced-repetition flashcards.